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Management buy out at Yo! Sushi
Private equity firm, Primary Capital, has announced a £10m management buy-out of the 14-strong chain of Japanese conveyor-belt restaurants, Yo! Sushi.
The deal includes £3.5m of development capital funding for restaurant investment and rollout and it will look to make further funds available as and when required for the growth of the company.
Yo! Sushi will continue to be led by its chief executive, Robin Rowland and fellow directors, Zoë Tindall and Gary Thomas.
Simon Woodroffe, who founded Yo! Sushi in 1997, will retain a 22 per cent stake in the company and remain involved as a non-executive director.
Rowland said: "We are delighted to have completed this transaction and with Primary as our equity partner we are confident that the huge domestic and international potential of Yo! Sushi can now be fulfilled."
For Primary Capital, director Merrick McKay said: "We have looked at many restaurant opportunities and until now have been unable to find the right formula of great management, a proven track record and the real growth potential offered by Yo! Sushi. We look forward to further developing the partnership."
New Yo! Sushi outlets are due to open in Birmingham Selfridges this week and in Athens and Dubai later this month. Details: www.yosushi.com
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